{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}R:\WSV2\TBu_AKe\Spatial_NEW\Wmat_SCB_test\spatial_6_regs_s_1502_vuong.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}15 Feb 2023, 18:04:53
{txt}
{com}.  
. 
.                         ***************************
.                         * run regression: OLS, fe *
.                         ***************************     
.                         
. cd "C:\Users\hy65byfe\Desktop\smerge_0712\SCB_4950"     
{res}C:\Users\hy65byfe\Desktop\smerge_0712\SCB_4950
{txt}
{com}. *cd "R:\WSV2\TBu_AKe\Spatial_NEW\SCB_4950"      
. use spatial_regs_s_0611_monthly, replace
{txt}
{com}. 
. *cd "C:\Users\hy65byfe\Desktop\smerge_0712\SCB_4950"                    
. *use spatial_regs_s_monthly_0102_overlap, replace  
.                         
. *preserve
. *spmatrix dir 
. keep if year == 2014 // no changes. otherwise matrices are wrong in previous.   
{txt}(0 observations deleted)

{com}.         
.         
.                         ***************************
.                         ***** Single Matrix *****
.                         ***************************     
.                 
. 
. ** log and ihs transformations to the untransformed data **
. 
.                 *** outcomes and polar cases (no q indexing needed, only double loop)
. foreach varx of varlist csd L3_sd               ccd L3_cd     {c -(}
{txt}  2{com}. 
.    gen     log_`varx'=log(1+`varx')
{txt}  3{com}.    gen     ihs_`varx'=`varx'+(`varx'^2+1)^0.5
{txt}  4{com}.    quietly replace ihs_`varx'=log(ihs_`varx')
{txt}  5{com}.  {c )-}
{txt}(1 missing value generated)

{com}.  
.  
.                 *** spatial variables *** 
. forvalues q = 1(1)8 {c -(} 
{txt}  2{com}.         foreach varx of varlist         S`q'_L3_sd C`q'_L3_sd B`q'_L3_sd S`q'_L3_cd C`q'_L3_cd B`q'_L3_cd       {c -(}
{txt}  3{com}. 
.    gen     log_`varx'=log(1+`varx')
{txt}  4{com}.    gen     ihs_`varx'=`varx'+(`varx'^2+1)^0.5
{txt}  5{com}.    quietly replace ihs_`varx'=log(ihs_`varx')
{txt}  6{com}.         {c )-}
{txt}  7{com}. {c )-}
{txt}
{com}. 
.                         **********************************************
.                         *****                   Regressions                      *****
.                         **********************************************
. 
.                         
. ***************** Baseline Vertical Regression ****************************
. 
. 
.     ** Results for log transformed data **
.         
.         local q = 6
{txt}
{com}.         
.         *quietly {c -(}
.                          
.         reghdfe  log_csd    log_L3_sd   log_S`q'_L3_sd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(log_V_S`q')
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.07
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8869
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8850
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1780
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7092

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3026285{col 26}{space 2} .0755488{col 37}{space 1}    4.01{col 46}{space 3}0.000{col 54}{space 4} .1508075{col 67}{space 3} .4544495
{txt}log_S6_L3_sd {c |}{col 14}{res}{space 2} .1219808{col 26}{space 2} .0428247{col 37}{space 1}    2.85{col 46}{space 3}0.006{col 54}{space 4} .0359215{col 67}{space 3} .2080402
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3941071{col 26}{space 2} .1016966{col 37}{space 1}    3.88{col 46}{space 3}0.000{col 54}{space 4} .1897402{col 67}{space 3} .5984741
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}.         estimates store log_V_S`q'
{txt}
{com}.         *predict log_V_S`q', e
.         gen ll_log_SV = (log_V_S`q')^2
{txt}(411,600 missing values generated)

{com}.         
.         reghdfe  log_csd    log_L3_sd   log_C`q'_L3_sd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(log_V_C`q')
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.95
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8887
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8868
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1910
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7036

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2914201{col 26}{space 2}  .074004{col 37}{space 1}    3.94{col 46}{space 3}0.000{col 54}{space 4} .1427036{col 67}{space 3} .4401367
{txt}log_C6_L3_sd {c |}{col 14}{res}{space 2} .1742513{col 26}{space 2} .0613689{col 37}{space 1}    2.84{col 46}{space 3}0.007{col 54}{space 4} .0509258{col 67}{space 3} .2975768
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3544054{col 26}{space 2}  .114904{col 37}{space 1}    3.08{col 46}{space 3}0.003{col 54}{space 4} .1234971{col 67}{space 3} .5853137
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}.         estimates store log_V_C`q'
{txt}
{com}.         *predict log_V_C`q', e
.         gen ll_log_CV = (log_V_C`q')^2
{txt}(411,600 missing values generated)

{com}.         
.         reghdfe  log_csd    log_L3_sd   log_B`q'_L3_sd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(log_V_B`q')
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.30
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8903
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8884
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2028
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6984

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2918767{col 26}{space 2} .0785436{col 37}{space 1}    3.72{col 46}{space 3}0.001{col 54}{space 4} .1340373{col 67}{space 3} .4497161
{txt}log_B6_L3_sd {c |}{col 14}{res}{space 2}  .188516{col 26}{space 2} .0609306{col 37}{space 1}    3.09{col 46}{space 3}0.003{col 54}{space 4} .0660714{col 67}{space 3} .3109607
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4469048{col 26}{space 2} .0926902{col 37}{space 1}    4.82{col 46}{space 3}0.000{col 54}{space 4} .2606368{col 67}{space 3} .6331727
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}.         estimates store log_V_B`q'
{txt}
{com}.         *predict log_V_B`q', e
.         gen ll_log_BV = (log_V_B`q')^2
{txt}(411,600 missing values generated)

{com}.         
.     ** Results for ihs transformed data **
. 
.         reghdfe  ihs_csd    ihs_L3_sd   ihs_S`q'_L3_sd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(ihs_V_S`q')
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.62
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8858
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8839
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1551
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7923

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .291106{col 26}{space 2} .0760164{col 37}{space 1}    3.83{col 46}{space 3}0.000{col 54}{space 4} .1383452{col 67}{space 3} .4438667
{txt}ihs_S6_L3_sd {c |}{col 14}{res}{space 2}   .10614{col 26}{space 2} .0390176{col 37}{space 1}    2.72{col 46}{space 3}0.009{col 54}{space 4} .0277313{col 67}{space 3} .1845488
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4853658{col 26}{space 2} .1116269{col 37}{space 1}    4.35{col 46}{space 3}0.000{col 54}{space 4}  .261043{col 67}{space 3} .7096885
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}.         estimates store ihs_V_S`q'
{txt}
{com}.         *predict ihs_V_S`q', e
.         gen ll_ihs_SV = (ihs_V_S`q')^2
{txt}(411,600 missing values generated)

{com}.         
.         reghdfe  ihs_csd    ihs_L3_sd   ihs_C`q'_L3_sd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(ihs_V_C`q')
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.62
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8874
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8856
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1673
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7865

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2814817{col 26}{space 2} .0746465{col 37}{space 1}    3.77{col 46}{space 3}0.000{col 54}{space 4} .1314739{col 67}{space 3} .4314894
{txt}ihs_C6_L3_sd {c |}{col 14}{res}{space 2} .1588705{col 26}{space 2} .0582911{col 37}{space 1}    2.73{col 46}{space 3}0.009{col 54}{space 4} .0417301{col 67}{space 3} .2760109
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4349039{col 26}{space 2} .1277229{col 37}{space 1}    3.41{col 46}{space 3}0.001{col 54}{space 4} .1782352{col 67}{space 3} .6915726
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}.         estimates store ihs_V_C`q'
{txt}
{com}.         *predict ihs_V_C`q', e
.         gen ll_ihs_CV = (ihs_V_C`q')^2
{txt}(411,600 missing values generated)

{com}.         
.         reghdfe  ihs_csd    ihs_L3_sd   ihs_B`q'_L3_sd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(ihs_V_B`q')
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.36
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8895
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8877
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1827
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7792

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .281706{col 26}{space 2} .0799426{col 37}{space 1}    3.52{col 46}{space 3}0.001{col 54}{space 4} .1210553{col 67}{space 3} .4423567
{txt}ihs_B6_L3_sd {c |}{col 14}{res}{space 2} .1807317{col 26}{space 2} .0586654{col 37}{space 1}    3.08{col 46}{space 3}0.003{col 54}{space 4} .0628392{col 67}{space 3} .2986243
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5195292{col 26}{space 2} .1058761{col 37}{space 1}    4.91{col 46}{space 3}0.000{col 54}{space 4} .3067631{col 67}{space 3} .7322952
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}.         estimates store ihs_V_B`q'
{txt}
{com}.         *predict ihs_V_B`q', e
.         gen ll_ihs_BV = (ihs_V_B`q')^2
{txt}(411,600 missing values generated)

{com}.         
.         *{c )-} 
. 
.         estimates table *V*, b(%9.4f) stats(N r2 r2_a F ll) star(0.10 .05 .01) // vertical, column (6) in main tables 
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:log_V_S6} {space 1} {center 12:log_V_C6} {space 1} {center 12:log_V_B6} {space 1} {center 12:ihs_V_S6} {space 1} {center 12:ihs_V_C6} {space 1} {center 12:ihs_V_B6} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 3}log_L3_sd {c |}{res} {ralign 9:0.3026}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.2914}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.2919}{lalign 3:***}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_S6_L3_sd {c |}{res} {ralign 9:0.1220}{lalign 3:***}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_C6_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1743}{lalign 3:***}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_B6_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1885}{lalign 3:***}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 3}ihs_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.2911}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.2815}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.2817}{lalign 3:***}{txt} {space 1}
{res}{txt}ihs_S6_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1061}{lalign 3:***}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_C6_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1589}{lalign 3:***}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_B6_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1807}{lalign 3:***}{txt} {space 1}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:0.3941}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3544}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.4469}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.4854}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.4349}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.5195}{lalign 3:***}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.8869}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8887}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8903}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8858}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8874}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8895}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2_a} {c |}{res} {ralign 9:0.8850}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8868}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8884}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8839}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8856}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8877}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:F} {c |}{res} {ralign 9:12.0674}{lalign 3:}{txt} {space 1}{res} {ralign 9:11.9546}{lalign 3:}{txt} {space 1}{res} {ralign 9:10.2960}{lalign 3:}{txt} {space 1}{res} {ralign 9:10.6238}{lalign 3:}{txt} {space 1}{res} {ralign 9:10.6163}{lalign 3:}{txt} {space 1}{res} {ralign 9:9.3594}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:ll} {c |}{res} {ralign 9:-4.48e+03}{lalign 3:}{txt} {space 1}{res} {ralign 9:-4.45e+03}{lalign 3:}{txt} {space 1}{res} {ralign 9:-4.42e+03}{lalign 3:}{txt} {space 1}{res} {ralign 9:-4.95e+03}{lalign 3:}{txt} {space 1}{res} {ralign 9:-4.92e+03}{lalign 3:}{txt} {space 1}{res} {ralign 9:-4.88e+03}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 104:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
.         sum log_V*

{txt}    Variable {c |}        Obs        Mean    Std. dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}log_V_S6 {c |}{res}      4,200    1.46e-17    .7033591   -4.11249   4.029165
{txt}{space 4}log_V_C6 {c |}{res}      4,200    1.44e-17     .697776  -4.091209   4.021456
{txt}{space 4}log_V_B6 {c |}{res}      4,200    1.70e-17    .6926448  -3.998406   4.179116
{txt}
{com}.         sum ihs_V*

{txt}    Variable {c |}        Obs        Mean    Std. dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}ihs_V_S6 {c |}{res}      4,200   -3.24e-17    .7857297  -4.712072   4.455127
{txt}{space 4}ihs_V_C6 {c |}{res}      4,200   -3.01e-17    .7800307  -4.688497   4.447802
{txt}{space 4}ihs_V_B6 {c |}{res}      4,200   -3.12e-17    .7728156  -4.583657   4.615712
{txt}
{com}.         
. ******************** Nonnested Alternative **********************************
. 
.                 
.                 ******************
.                 *** Fan (S) ******
.                 ******************
. 
.     ** Results for log transformed data **
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  log_csd    log_L3_sd   log_S`q'_L3_sd                                                          if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(log_S`q')
{txt}  3{com}.         estimates store log_S`q'
{txt}  4{com}.         *predict log_S`q', e
.         gen ll_log_S`q' = (log_S`q')^2
{txt}  5{com}.         gen diff_log_S`q' = ll_log_SV - ll_log_S`q'
{txt}  6{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.46
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8842
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8823
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1587
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7175

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3145672{col 26}{space 2} .0785889{col 37}{space 1}    4.00{col 46}{space 3}0.000{col 54}{space 4} .1566368{col 67}{space 3} .4724976
{txt}log_S1_L3_sd {c |}{col 14}{res}{space 2} .1214645{col 26}{space 2}  .064373{col 37}{space 1}    1.89{col 46}{space 3}0.065{col 54}{space 4} -.007898{col 67}{space 3} .2508269
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.2044176{col 26}{space 2} .4450731{col 37}{space 1}   -0.46{col 46}{space 3}0.648{col 54}{space 4}-1.098825{col 67}{space 3} .6899902
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.91
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8833
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8813
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1520
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7203

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3242704{col 26}{space 2} .0796094{col 37}{space 1}    4.07{col 46}{space 3}0.000{col 54}{space 4} .1642893{col 67}{space 3} .4842515
{txt}log_S2_L3_sd {c |}{col 14}{res}{space 2}  .030524{col 26}{space 2} .0427592{col 37}{space 1}    0.71{col 46}{space 3}0.479{col 54}{space 4}-.0554038{col 67}{space 3} .1164518
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5384287{col 26}{space 2} .0860213{col 37}{space 1}    6.26{col 46}{space 3}0.000{col 54}{space 4} .3655625{col 67}{space 3} .7112949
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     17.37
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8831
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8811
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1505
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7210

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3254211{col 26}{space 2} .0777326{col 37}{space 1}    4.19{col 46}{space 3}0.000{col 54}{space 4} .1692116{col 67}{space 3} .4816306
{txt}log_S3_L3_sd {c |}{col 14}{res}{space 2} -.012188{col 26}{space 2} .0331492{col 37}{space 1}   -0.37{col 46}{space 3}0.715{col 54}{space 4}-.0788038{col 67}{space 3} .0544278
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6310986{col 26}{space 2} .0972662{col 37}{space 1}    6.49{col 46}{space 3}0.000{col 54}{space 4} .4356349{col 67}{space 3} .8265623
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.73
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8848
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8829
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1628
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7157

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3210103{col 26}{space 2} .0797922{col 37}{space 1}    4.02{col 46}{space 3}0.000{col 54}{space 4}  .160662{col 67}{space 3} .4813587
{txt}log_S4_L3_sd {c |}{col 14}{res}{space 2} .0865266{col 26}{space 2} .0523708{col 37}{space 1}    1.65{col 46}{space 3}0.105{col 54}{space 4}-.0187165{col 67}{space 3} .1917697
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5250696{col 26}{space 2} .0724356{col 37}{space 1}    7.25{col 46}{space 3}0.000{col 54}{space 4} .3795048{col 67}{space 3} .6706343
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.73
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8831
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8811
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1504
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7210

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3257541{col 26}{space 2} .0766405{col 37}{space 1}    4.25{col 46}{space 3}0.000{col 54}{space 4} .1717391{col 67}{space 3}  .479769
{txt}log_S5_L3_sd {c |}{col 14}{res}{space 2}-.0129862{col 26}{space 2} .0624478{col 37}{space 1}   -0.21{col 46}{space 3}0.836{col 54}{space 4}-.1384796{col 67}{space 3} .1125073
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6238087{col 26}{space 2} .0917772{col 37}{space 1}    6.80{col 46}{space 3}0.000{col 54}{space 4} .4393754{col 67}{space 3} .8082419
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.07
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8869
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8850
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1780
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7092

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3026285{col 26}{space 2} .0755488{col 37}{space 1}    4.01{col 46}{space 3}0.000{col 54}{space 4} .1508075{col 67}{space 3} .4544495
{txt}log_S6_L3_sd {c |}{col 14}{res}{space 2} .1219808{col 26}{space 2} .0428247{col 37}{space 1}    2.85{col 46}{space 3}0.006{col 54}{space 4} .0359215{col 67}{space 3} .2080402
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3941071{col 26}{space 2} .1016966{col 37}{space 1}    3.88{col 46}{space 3}0.000{col 54}{space 4} .1897402{col 67}{space 3} .5984741
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.97
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8850
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8830
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1642
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7151

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .312549{col 26}{space 2} .0758679{col 37}{space 1}    4.12{col 46}{space 3}0.000{col 54}{space 4} .1600868{col 67}{space 3} .4650113
{txt}log_S7_L3_sd {c |}{col 14}{res}{space 2} .1010863{col 26}{space 2} .0464339{col 37}{space 1}    2.18{col 46}{space 3}0.034{col 54}{space 4} .0077738{col 67}{space 3} .1943987
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3893576{col 26}{space 2}  .128242{col 37}{space 1}    3.04{col 46}{space 3}0.004{col 54}{space 4} .1316455{col 67}{space 3} .6470696
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.98
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8879
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8860
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1856
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7059

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2929766{col 26}{space 2} .0720705{col 37}{space 1}    4.07{col 46}{space 3}0.000{col 54}{space 4} .1481455{col 67}{space 3} .4378077
{txt}log_S8_L3_sd {c |}{col 14}{res}{space 2} .2252715{col 26}{space 2} .0816832{col 37}{space 1}    2.76{col 46}{space 3}0.008{col 54}{space 4}  .061123{col 67}{space 3} .3894201
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .064409{col 26}{space 2} .2213015{col 37}{space 1}    0.29{col 46}{space 3}0.772{col 54}{space 4} -.380313{col 67}{space 3} .5091311
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)

{com}. 
. *sum diff* // check variables, must be zero for no. 6. 
. 
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reg diff_log_S`q', vce(cluster cell)
{txt}  3{com}.         estimates store log_diff_S`q' // constant significant? test for differences in model fit. (Wooldridge explain the by-hand process)
{txt}  4{com}. {c )-} 

{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .23276

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_S1{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0115696{col 26}{space 2} .0107342{col 37}{space 1}   -1.08{col 46}{space 3}0.286{col 54}{space 4}-.0331407{col 67}{space 3} .0100015
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .23493

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_S2{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0156021{col 26}{space 2} .0121519{col 37}{space 1}   -1.28{col 46}{space 3}0.205{col 54}{space 4}-.0400222{col 67}{space 3}  .008818
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .24365

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_S3{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0165233{col 26}{space 2}  .011837{col 37}{space 1}   -1.40{col 46}{space 3}0.169{col 54}{space 4}-.0403107{col 67}{space 3} .0072641
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .27119

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_S4{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0091119{col 26}{space 2} .0123076{col 37}{space 1}   -0.74{col 46}{space 3}0.463{col 54}{space 4}-.0338448{col 67}{space 3} .0156211
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .24253

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_S5{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2} -.016572{col 26}{space 2} .0113805{col 37}{space 1}   -1.46{col 46}{space 3}0.152{col 54}{space 4} -.039442{col 67}{space 3} .0062979
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}         .
                                                {txt}Root MSE          =    {res}      0

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_S6{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res}  .1683

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_S7{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0082888{col 26}{space 2} .0069435{col 37}{space 1}   -1.19{col 46}{space 3}0.238{col 54}{space 4}-.0222422{col 67}{space 3} .0056646
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .25349

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_S8{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2} .0045987{col 26}{space 2}  .009332{col 37}{space 1}    0.49{col 46}{space 3}0.624{col 54}{space 4}-.0141547{col 67}{space 3} .0233522
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. 
. estimates table  log_diff_S* , b(%9.3f) se(%9.3f) stats(N r2) 
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:Variable} {c |} {center 9:log_dif~1} {space 1} {center 9:log_dif~2} {space 1} {center 9:log_dif~3} {space 1} {center 9:log_dif~4} {space 1} {center 9:log_dif~5} {space 1} {center 9:log_dif~6} {space 1} {center 9:log_dif~7} {space 1} {center 9:log_dif~8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.012}{txt} {space 1}{res} {ralign 9:-0.016}{txt} {space 1}{res} {ralign 9:-0.017}{txt} {space 1}{res} {ralign 9:-0.009}{txt} {space 1}{res} {ralign 9:-0.017}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:-0.008}{txt} {space 1}{res} {ralign 9:0.005}{txt} {space 1}
{res}{txt}{space 12} {c |}{res} {ralign 9:0.011}{txt} {space 1}{res} {ralign 9:0.012}{txt} {space 1}{res} {ralign 9:0.012}{txt} {space 1}{res} {ralign 9:0.012}{txt} {space 1}{res} {ralign 9:0.011}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.007}{txt} {space 1}{res} {ralign 9:0.009}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:.}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 110:Legend: b/se}
{res}{txt}
{com}. estimates table  log_diff_S* , b(%9.3f)                   stats(N r2) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:log_diff_S1} {space 1} {center 12:log_diff_S2} {space 1} {center 12:log_diff_S3} {space 1} {center 12:log_diff_S4} {space 1} {center 12:log_diff_S5} {space 1} {center 12:log_diff_S6} {space 1} {center 12:log_diff_S7} {space 1} {center 12:log_diff_S8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.012}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.016}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.017}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.009}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.017}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.008}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.005}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:.}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 134:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
. 
.     ** Results for ihs transformed data **
. 
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  ihs_csd    ihs_L3_sd   ihs_S`q'_L3_sd                                                          if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(ihs_S`q')
{txt}  3{com}.         estimates store ihs_S`q'
{txt}  4{com}.         *predict ihs_S`q', e
.         gen ll_ihs_S`q' = (ihs_S`q')^2
{txt}  5{com}.         gen diff_ihs_S`q' = ll_ihs_SV - ll_ihs_S`q'
{txt}  6{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.91
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0005
{txt}{col 51}R-squared{col 67}= {res}    0.8840
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8821
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1419
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7984

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2962525{col 26}{space 2} .0784198{col 37}{space 1}    3.78{col 46}{space 3}0.000{col 54}{space 4} .1386621{col 67}{space 3} .4538429
{txt}ihs_S1_L3_sd {c |}{col 14}{res}{space 2} .1263402{col 26}{space 2} .0666742{col 37}{space 1}    1.89{col 46}{space 3}0.064{col 54}{space 4}-.0076466{col 67}{space 3} .2603269
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.2208871{col 26}{space 2}  .500224{col 37}{space 1}   -0.44{col 46}{space 3}0.661{col 54}{space 4}-1.226125{col 67}{space 3} .7843506
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.88
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8830
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8810
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1342
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8020

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3068774{col 26}{space 2} .0789232{col 37}{space 1}    3.89{col 46}{space 3}0.000{col 54}{space 4} .1482753{col 67}{space 3} .4654795
{txt}ihs_S2_L3_sd {c |}{col 14}{res}{space 2} .0209328{col 26}{space 2} .0416986{col 37}{space 1}    0.50{col 46}{space 3}0.618{col 54}{space 4}-.0628638{col 67}{space 3} .1047293
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6480205{col 26}{space 2} .0993821{col 37}{space 1}    6.52{col 46}{space 3}0.000{col 54}{space 4} .4483048{col 67}{space 3} .8477363
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.75
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8829
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8809
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1335
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8023

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .307442{col 26}{space 2} .0776995{col 37}{space 1}    3.96{col 46}{space 3}0.000{col 54}{space 4}  .151299{col 67}{space 3}  .463585
{txt}ihs_S3_L3_sd {c |}{col 14}{res}{space 2}-.0092148{col 26}{space 2} .0318427{col 37}{space 1}   -0.29{col 46}{space 3}0.774{col 54}{space 4}-.0732052{col 67}{space 3} .0547756
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7230954{col 26}{space 2} .1092762{col 37}{space 1}    6.62{col 46}{space 3}0.000{col 54}{space 4} .5034966{col 67}{space 3} .9426942
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.63
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8841
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8822
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1425
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7982

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3043338{col 26}{space 2} .0791339{col 37}{space 1}    3.85{col 46}{space 3}0.000{col 54}{space 4} .1453084{col 67}{space 3} .4633593
{txt}ihs_S4_L3_sd {c |}{col 14}{res}{space 2} .0727671{col 26}{space 2} .0473946{col 37}{space 1}    1.54{col 46}{space 3}0.131{col 54}{space 4}-.0224759{col 67}{space 3} .1680101
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6198599{col 26}{space 2} .0841937{col 37}{space 1}    7.36{col 46}{space 3}0.000{col 54}{space 4} .4506663{col 67}{space 3} .7890535
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.06
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8829
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8809
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1336
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8023

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3078798{col 26}{space 2} .0765421{col 37}{space 1}    4.02{col 46}{space 3}0.000{col 54}{space 4} .1540627{col 67}{space 3} .4616968
{txt}ihs_S5_L3_sd {c |}{col 14}{res}{space 2}-.0156137{col 26}{space 2} .0609028{col 37}{space 1}   -0.26{col 46}{space 3}0.799{col 54}{space 4}-.1380025{col 67}{space 3}  .106775
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7218682{col 26}{space 2} .1074736{col 37}{space 1}    6.72{col 46}{space 3}0.000{col 54}{space 4}  .505892{col 67}{space 3} .9378444
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.62
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8858
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8839
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1551
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7923

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .291106{col 26}{space 2} .0760164{col 37}{space 1}    3.83{col 46}{space 3}0.000{col 54}{space 4} .1383452{col 67}{space 3} .4438667
{txt}ihs_S6_L3_sd {c |}{col 14}{res}{space 2}   .10614{col 26}{space 2} .0390176{col 37}{space 1}    2.72{col 46}{space 3}0.009{col 54}{space 4} .0277313{col 67}{space 3} .1845488
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4853658{col 26}{space 2} .1116269{col 37}{space 1}    4.35{col 46}{space 3}0.000{col 54}{space 4}  .261043{col 67}{space 3} .7096885
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.84
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0005
{txt}{col 51}R-squared{col 67}= {res}    0.8842
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8822
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1431
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7979

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2989876{col 26}{space 2} .0765246{col 37}{space 1}    3.91{col 46}{space 3}0.000{col 54}{space 4} .1452057{col 67}{space 3} .4527694
{txt}ihs_S7_L3_sd {c |}{col 14}{res}{space 2} .0850238{col 26}{space 2} .0424032{col 37}{space 1}    2.01{col 46}{space 3}0.050{col 54}{space 4}-.0001886{col 67}{space 3} .1702363
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4914208{col 26}{space 2} .1367464{col 37}{space 1}    3.59{col 46}{space 3}0.001{col 54}{space 4} .2166187{col 67}{space 3} .7662229
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.86
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8868
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8849
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1625
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7888

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2818626{col 26}{space 2} .0730881{col 37}{space 1}    3.86{col 46}{space 3}0.000{col 54}{space 4} .1349866{col 67}{space 3} .4287386
{txt}ihs_S8_L3_sd {c |}{col 14}{res}{space 2} .2099801{col 26}{space 2} .0792206{col 37}{space 1}    2.65{col 46}{space 3}0.011{col 54}{space 4} .0507803{col 67}{space 3} .3691798
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .1385827{col 26}{space 2} .2394347{col 37}{space 1}    0.58{col 46}{space 3}0.565{col 54}{space 4}-.3425794{col 67}{space 3} .6197448
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)

{com}. 
. *sum diff* // check variables, must be zero for no. 6. 
. 
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reg diff_ihs_S`q', vce(cluster cell)
{txt}  3{com}.         estimates store ihs_diff_S`q' // constant significant? test for differences in model fit. (Wooldridge explain the by-hand process)
{txt}  4{com}. {c )-} 

{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .24374

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_S1{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0096348{col 26}{space 2} .0107356{col 37}{space 1}   -0.90{col 46}{space 3}0.374{col 54}{space 4}-.0312089{col 67}{space 3} .0119393
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res}  .2411

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_S2{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0153027{col 26}{space 2} .0120795{col 37}{space 1}   -1.27{col 46}{space 3}0.211{col 54}{space 4}-.0395773{col 67}{space 3} .0089719
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .24813

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_S3{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0158059{col 26}{space 2} .0117989{col 37}{space 1}   -1.34{col 46}{space 3}0.187{col 54}{space 4}-.0395167{col 67}{space 3} .0079048
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .28141

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_S4{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0092029{col 26}{space 2} .0125516{col 37}{space 1}   -0.73{col 46}{space 3}0.467{col 54}{space 4}-.0344262{col 67}{space 3} .0160204
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .24974

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_S5{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0156955{col 26}{space 2} .0113553{col 37}{space 1}   -1.38{col 46}{space 3}0.173{col 54}{space 4}-.0385149{col 67}{space 3} .0071239
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}         .
                                                {txt}Root MSE          =    {res}      0

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_S6{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .18247

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_S7{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0088004{col 26}{space 2} .0073015{col 37}{space 1}   -1.21{col 46}{space 3}0.234{col 54}{space 4}-.0234733{col 67}{space 3} .0058726
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res}  .2826

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_S8{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2} .0054126{col 26}{space 2} .0101022{col 37}{space 1}    0.54{col 46}{space 3}0.595{col 54}{space 4}-.0148885{col 67}{space 3} .0257137
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. 
. estimates table  ihs_diff_S* , b(%9.3f) se(%9.3f) stats(N r2) 
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:Variable} {c |} {center 9:ihs_dif~1} {space 1} {center 9:ihs_dif~2} {space 1} {center 9:ihs_dif~3} {space 1} {center 9:ihs_dif~4} {space 1} {center 9:ihs_dif~5} {space 1} {center 9:ihs_dif~6} {space 1} {center 9:ihs_dif~7} {space 1} {center 9:ihs_dif~8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.010}{txt} {space 1}{res} {ralign 9:-0.015}{txt} {space 1}{res} {ralign 9:-0.016}{txt} {space 1}{res} {ralign 9:-0.009}{txt} {space 1}{res} {ralign 9:-0.016}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:-0.009}{txt} {space 1}{res} {ralign 9:0.005}{txt} {space 1}
{res}{txt}{space 12} {c |}{res} {ralign 9:0.011}{txt} {space 1}{res} {ralign 9:0.012}{txt} {space 1}{res} {ralign 9:0.012}{txt} {space 1}{res} {ralign 9:0.013}{txt} {space 1}{res} {ralign 9:0.011}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.007}{txt} {space 1}{res} {ralign 9:0.010}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:.}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 110:Legend: b/se}
{res}{txt}
{com}. estimates table  ihs_diff_S* , b(%9.3f)                   stats(N r2) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:ihs_diff_S1} {space 1} {center 12:ihs_diff_S2} {space 1} {center 12:ihs_diff_S3} {space 1} {center 12:ihs_diff_S4} {space 1} {center 12:ihs_diff_S5} {space 1} {center 12:ihs_diff_S6} {space 1} {center 12:ihs_diff_S7} {space 1} {center 12:ihs_diff_S8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.010}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.015}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.016}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.009}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.016}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.009}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.005}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:.}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 134:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
. 
. 
.                 ************************
.                 *** 4 corners (C) ******
.                 ************************
.                 
.     ** Results for log transformed data **
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  log_csd    log_L3_sd   log_C`q'_L3_sd                                                          if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(log_C`q')
{txt}  3{com}.         estimates store log_C`q'
{txt}  4{com}.         *predict log_C`q', e
.         gen ll_log_C`q' = (log_C`q')^2
{txt}  5{com}.         gen diff_log_C`q' = ll_log_CV - ll_log_C`q'
{txt}  6{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.02
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8865
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8846
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1750
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7105

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3127117{col 26}{space 2} .0778421{col 37}{space 1}    4.02{col 46}{space 3}0.000{col 54}{space 4} .1562823{col 67}{space 3} .4691412
{txt}log_C1_L3_sd {c |}{col 14}{res}{space 2} .1029412{col 26}{space 2} .0381998{col 37}{space 1}    2.69{col 46}{space 3}0.010{col 54}{space 4} .0261759{col 67}{space 3} .1797065
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4239065{col 26}{space 2} .0939969{col 37}{space 1}    4.51{col 46}{space 3}0.000{col 54}{space 4} .2350126{col 67}{space 3} .6128004
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.73
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0006
{txt}{col 51}R-squared{col 67}= {res}    0.8860
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8841
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1715
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7120

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3157461{col 26}{space 2} .0758773{col 37}{space 1}    4.16{col 46}{space 3}0.000{col 54}{space 4} .1632649{col 67}{space 3} .4682273
{txt}log_C2_L3_sd {c |}{col 14}{res}{space 2} .1076039{col 26}{space 2} .0539536{col 37}{space 1}    1.99{col 46}{space 3}0.052{col 54}{space 4}-.0008198{col 67}{space 3} .2160277
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4038764{col 26}{space 2}  .149656{col 37}{space 1}    2.70{col 46}{space 3}0.010{col 54}{space 4} .1031315{col 67}{space 3} .7046214
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.73
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8883
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8864
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1882
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7048

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3085692{col 26}{space 2} .0756077{col 37}{space 1}    4.08{col 46}{space 3}0.000{col 54}{space 4} .1566299{col 67}{space 3} .4605086
{txt}log_C3_L3_sd {c |}{col 14}{res}{space 2} .1498334{col 26}{space 2} .0561261{col 37}{space 1}    2.67{col 46}{space 3}0.010{col 54}{space 4} .0370438{col 67}{space 3}  .262623
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3159815{col 26}{space 2} .1430253{col 37}{space 1}    2.21{col 46}{space 3}0.032{col 54}{space 4} .0285615{col 67}{space 3} .6034015
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.27
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8880
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8861
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1860
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7057

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3111872{col 26}{space 2} .0758418{col 37}{space 1}    4.10{col 46}{space 3}0.000{col 54}{space 4} .1587774{col 67}{space 3}  .463597
{txt}log_C4_L3_sd {c |}{col 14}{res}{space 2} .1391887{col 26}{space 2} .0532861{col 37}{space 1}    2.61{col 46}{space 3}0.012{col 54}{space 4} .0321062{col 67}{space 3} .2462711
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3560389{col 26}{space 2} .1343654{col 37}{space 1}    2.65{col 46}{space 3}0.011{col 54}{space 4} .0860216{col 67}{space 3} .6260562
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.11
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8868
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8849
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1773
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7095

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2950493{col 26}{space 2} .0776101{col 37}{space 1}    3.80{col 46}{space 3}0.000{col 54}{space 4}  .139086{col 67}{space 3} .4510126
{txt}log_C5_L3_sd {c |}{col 14}{res}{space 2} .1190403{col 26}{space 2} .0413255{col 37}{space 1}    2.88{col 46}{space 3}0.006{col 54}{space 4} .0359936{col 67}{space 3} .2020869
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4005161{col 26}{space 2} .1028236{col 37}{space 1}    3.90{col 46}{space 3}0.000{col 54}{space 4} .1938843{col 67}{space 3} .6071479
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.95
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8887
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8868
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1910
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7036

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2914201{col 26}{space 2}  .074004{col 37}{space 1}    3.94{col 46}{space 3}0.000{col 54}{space 4} .1427036{col 67}{space 3} .4401367
{txt}log_C6_L3_sd {c |}{col 14}{res}{space 2} .1742513{col 26}{space 2} .0613689{col 37}{space 1}    2.84{col 46}{space 3}0.007{col 54}{space 4} .0509258{col 67}{space 3} .2975768
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3544054{col 26}{space 2}  .114904{col 37}{space 1}    3.08{col 46}{space 3}0.003{col 54}{space 4} .1234971{col 67}{space 3} .5853137
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.93
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8872
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8853
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1802
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7082

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}   .29425{col 26}{space 2} .0808406{col 37}{space 1}    3.64{col 46}{space 3}0.001{col 54}{space 4} .1317947{col 67}{space 3} .4567053
{txt}log_C7_L3_sd {c |}{col 14}{res}{space 2} .1603713{col 26}{space 2} .0635158{col 37}{space 1}    2.52{col 46}{space 3}0.015{col 54}{space 4} .0327314{col 67}{space 3} .2880112
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3363029{col 26}{space 2} .1240375{col 37}{space 1}    2.71{col 46}{space 3}0.009{col 54}{space 4} .0870403{col 67}{space 3} .5855656
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: log_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     17.20
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8830
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8811
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1502
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7210

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3250576{col 26}{space 2} .0783755{col 37}{space 1}    4.15{col 46}{space 3}0.000{col 54}{space 4} .1675562{col 67}{space 3} .4825591
{txt}log_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .6141831{col 26}{space 2} .0603831{col 37}{space 1}   10.17{col 46}{space 3}0.000{col 54}{space 4} .4928388{col 67}{space 3} .7355275
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)

{com}. 
. *sum diff* // check variables, must be zero for no. 6. 
. 
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reg diff_log_C`q', vce(cluster cell)
{txt}  3{com}.         estimates store log_diff_C`q' // constant significant? test for differences in model fit. (Wooldridge explain the by-hand process)
{txt}  4{com}. {c )-} 

{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .23474

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_C1{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0095931{col 26}{space 2} .0087977{col 37}{space 1}   -1.09{col 46}{space 3}0.281{col 54}{space 4}-.0272727{col 67}{space 3} .0080866
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .26391

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_C2{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2} -.011721{col 26}{space 2} .0135186{col 37}{space 1}   -0.87{col 46}{space 3}0.390{col 54}{space 4}-.0388876{col 67}{space 3} .0154457
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .29006

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_C3{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0016291{col 26}{space 2} .0112578{col 37}{space 1}   -0.14{col 46}{space 3}0.886{col 54}{space 4}-.0242525{col 67}{space 3} .0209943
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .28619

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_C4{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0029691{col 26}{space 2} .0112792{col 37}{space 1}   -0.26{col 46}{space 3}0.793{col 54}{space 4}-.0256355{col 67}{space 3} .0196973
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .15779

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_C5{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0082361{col 26}{space 2} .0081039{col 37}{space 1}   -1.02{col 46}{space 3}0.314{col 54}{space 4}-.0245215{col 67}{space 3} .0080494
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}         .
                                                {txt}Root MSE          =    {res}      0

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_C6{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .31106

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_C7{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0064713{col 26}{space 2} .0153199{col 37}{space 1}   -0.42{col 46}{space 3}0.675{col 54}{space 4}-.0372578{col 67}{space 3} .0243153
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .34216

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_C8{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0245213{col 26}{space 2} .0166525{col 37}{space 1}   -1.47{col 46}{space 3}0.147{col 54}{space 4}-.0579858{col 67}{space 3} .0089432
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. 
. estimates table  log_diff_C* , b(%9.3f) se(%9.3f) stats(N r2) 
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:Variable} {c |} {center 9:log_dif~1} {space 1} {center 9:log_dif~2} {space 1} {center 9:log_dif~3} {space 1} {center 9:log_dif~4} {space 1} {center 9:log_dif~5} {space 1} {center 9:log_dif~6} {space 1} {center 9:log_dif~7} {space 1} {center 9:log_dif~8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.010}{txt} {space 1}{res} {ralign 9:-0.012}{txt} {space 1}{res} {ralign 9:-0.002}{txt} {space 1}{res} {ralign 9:-0.003}{txt} {space 1}{res} {ralign 9:-0.008}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:-0.006}{txt} {space 1}{res} {ralign 9:-0.025}{txt} {space 1}
{res}{txt}{space 12} {c |}{res} {ralign 9:0.009}{txt} {space 1}{res} {ralign 9:0.014}{txt} {space 1}{res} {ralign 9:0.011}{txt} {space 1}{res} {ralign 9:0.011}{txt} {space 1}{res} {ralign 9:0.008}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.015}{txt} {space 1}{res} {ralign 9:0.017}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:.}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 110:Legend: b/se}
{res}{txt}
{com}. estimates table  log_diff_C* , b(%9.3f)                   stats(N r2) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:log_diff_C1} {space 1} {center 12:log_diff_C2} {space 1} {center 12:log_diff_C3} {space 1} {center 12:log_diff_C4} {space 1} {center 12:log_diff_C5} {space 1} {center 12:log_diff_C6} {space 1} {center 12:log_diff_C7} {space 1} {center 12:log_diff_C8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.010}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.012}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.002}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.003}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.008}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.006}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.025}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:.}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 134:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
. 
.     ** Results for ihs transformed data **
. 
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  ihs_csd    ihs_L3_sd   ihs_C`q'_L3_sd                                                          if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(ihs_C`q')
{txt}  3{com}.         estimates store ihs_C`q'
{txt}  4{com}.         *predict ihs_C`q', e
.         gen ll_ihs_C`q' = (ihs_C`q')^2
{txt}  5{com}.         gen diff_ihs_C`q' = ll_ihs_CV - ll_ihs_C`q'
{txt}  6{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.07
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8857
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8837
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1541
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7927

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2969412{col 26}{space 2} .0783697{col 37}{space 1}    3.79{col 46}{space 3}0.000{col 54}{space 4} .1394515{col 67}{space 3}  .454431
{txt}ihs_C1_L3_sd {c |}{col 14}{res}{space 2} .0932489{col 26}{space 2} .0354373{col 37}{space 1}    2.63{col 46}{space 3}0.011{col 54}{space 4} .0220348{col 67}{space 3} .1644629
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5101676{col 26}{space 2} .1020806{col 37}{space 1}    5.00{col 46}{space 3}0.000{col 54}{space 4} .3050289{col 67}{space 3} .7153063
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.65
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0013
{txt}{col 51}R-squared{col 67}= {res}    0.8855
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8836
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1530
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7933

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3010432{col 26}{space 2} .0772987{col 37}{space 1}    3.89{col 46}{space 3}0.000{col 54}{space 4} .1457056{col 67}{space 3} .4563808
{txt}ihs_C2_L3_sd {c |}{col 14}{res}{space 2} .1031824{col 26}{space 2} .0528688{col 37}{space 1}    1.95{col 46}{space 3}0.057{col 54}{space 4}-.0030614{col 67}{space 3} .2094263
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .474565{col 26}{space 2} .1704466{col 37}{space 1}    2.78{col 46}{space 3}0.008{col 54}{space 4} .1320398{col 67}{space 3} .8170902
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.43
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0007
{txt}{col 51}R-squared{col 67}= {res}    0.8873
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8854
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1665
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7869

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2962709{col 26}{space 2} .0769669{col 37}{space 1}    3.85{col 46}{space 3}0.000{col 54}{space 4} .1416002{col 67}{space 3} .4509416
{txt}ihs_C3_L3_sd {c |}{col 14}{res}{space 2}  .140536{col 26}{space 2} .0544311{col 37}{space 1}    2.58{col 46}{space 3}0.013{col 54}{space 4} .0311526{col 67}{space 3} .2499193
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3844597{col 26}{space 2} .1634162{col 37}{space 1}    2.35{col 46}{space 3}0.023{col 54}{space 4} .0560626{col 67}{space 3} .7128568
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.98
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0010
{txt}{col 51}R-squared{col 67}= {res}    0.8869
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8850
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1631
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7885

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2991255{col 26}{space 2} .0773755{col 37}{space 1}    3.87{col 46}{space 3}0.000{col 54}{space 4} .1436336{col 67}{space 3} .4546174
{txt}ihs_C4_L3_sd {c |}{col 14}{res}{space 2} .1257497{col 26}{space 2} .0505549{col 37}{space 1}    2.49{col 46}{space 3}0.016{col 54}{space 4} .0241559{col 67}{space 3} .2273436
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4366776{col 26}{space 2}  .152469{col 37}{space 1}    2.86{col 46}{space 3}0.006{col 54}{space 4} .1302796{col 67}{space 3} .7430755
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.99
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8859
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8840
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1558
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7919

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2833217{col 26}{space 2} .0778651{col 37}{space 1}    3.64{col 46}{space 3}0.001{col 54}{space 4} .1268459{col 67}{space 3} .4397976
{txt}ihs_C5_L3_sd {c |}{col 14}{res}{space 2} .1080105{col 26}{space 2} .0389393{col 37}{space 1}    2.77{col 46}{space 3}0.008{col 54}{space 4}  .029759{col 67}{space 3} .1862619
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4837204{col 26}{space 2} .1142128{col 37}{space 1}    4.24{col 46}{space 3}0.000{col 54}{space 4} .2542011{col 67}{space 3} .7132397
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.62
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8874
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8856
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1673
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7865

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2814817{col 26}{space 2} .0746465{col 37}{space 1}    3.77{col 46}{space 3}0.000{col 54}{space 4} .1314739{col 67}{space 3} .4314894
{txt}ihs_C6_L3_sd {c |}{col 14}{res}{space 2} .1588705{col 26}{space 2} .0582911{col 37}{space 1}    2.73{col 46}{space 3}0.009{col 54}{space 4} .0417301{col 67}{space 3} .2760109
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4349039{col 26}{space 2} .1277229{col 37}{space 1}    3.41{col 46}{space 3}0.001{col 54}{space 4} .1782352{col 67}{space 3} .6915726
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.54
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8865
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8846
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1606
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7897

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2813038{col 26}{space 2} .0808447{col 37}{space 1}    3.48{col 46}{space 3}0.001{col 54}{space 4} .1188403{col 67}{space 3} .4437672
{txt}ihs_C7_L3_sd {c |}{col 14}{res}{space 2} .1572932{col 26}{space 2} .0625621{col 37}{space 1}    2.51{col 46}{space 3}0.015{col 54}{space 4} .0315699{col 67}{space 3} .2830165
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3947877{col 26}{space 2} .1375052{col 37}{space 1}    2.87{col 46}{space 3}0.006{col 54}{space 4} .1184607{col 67}{space 3} .6711148
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: ihs_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     15.40
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8828
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8809
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1333
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8023

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}   .30718{col 26}{space 2} .0782709{col 37}{space 1}    3.92{col 46}{space 3}0.000{col 54}{space 4} .1498887{col 67}{space 3} .4644713
{txt}ihs_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .7081567{col 26}{space 2} .0683596{col 37}{space 1}   10.36{col 46}{space 3}0.000{col 54}{space 4}  .570783{col 67}{space 3} .8455305
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)

{com}. 
. *sum diff* // check variables, must be zero for no. 6. 
. 
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reg diff_ihs_C`q', vce(cluster cell)
{txt}  3{com}.         estimates store ihs_diff_C`q' // constant significant? test for differences in model fit. (Wooldridge explain the by-hand process)
{txt}  4{com}. {c )-} 

{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res}  .2628

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_C1{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0096453{col 26}{space 2} .0095198{col 37}{space 1}   -1.01{col 46}{space 3}0.316{col 54}{space 4} -.028776{col 67}{space 3} .0094855
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .28899

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_C2{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0104692{col 26}{space 2} .0142763{col 37}{space 1}   -0.73{col 46}{space 3}0.467{col 54}{space 4}-.0391585{col 67}{space 3} .0182201
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .32597

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_C3{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0006265{col 26}{space 2} .0127161{col 37}{space 1}   -0.05{col 46}{space 3}0.961{col 54}{space 4}-.0261804{col 67}{space 3} .0249275
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .31923

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_C4{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0031111{col 26}{space 2} .0123332{col 37}{space 1}   -0.25{col 46}{space 3}0.802{col 54}{space 4}-.0278955{col 67}{space 3} .0216734
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .16852

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_C5{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0084159{col 26}{space 2} .0083783{col 37}{space 1}   -1.00{col 46}{space 3}0.320{col 54}{space 4}-.0252527{col 67}{space 3}  .008421
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}         .
                                                {txt}Root MSE          =    {res}      0

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_C6{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .35532

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_C7{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0049125{col 26}{space 2} .0172478{col 37}{space 1}   -0.28{col 46}{space 3}0.777{col 54}{space 4}-.0395734{col 67}{space 3} .0297483
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .36703

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_C8{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0248581{col 26}{space 2}  .017458{col 37}{space 1}   -1.42{col 46}{space 3}0.161{col 54}{space 4}-.0599414{col 67}{space 3} .0102251
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. 
. estimates table  ihs_diff_C* , b(%9.3f) se(%9.3f) stats(N r2) 
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:Variable} {c |} {center 9:ihs_dif~1} {space 1} {center 9:ihs_dif~2} {space 1} {center 9:ihs_dif~3} {space 1} {center 9:ihs_dif~4} {space 1} {center 9:ihs_dif~5} {space 1} {center 9:ihs_dif~6} {space 1} {center 9:ihs_dif~7} {space 1} {center 9:ihs_dif~8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.010}{txt} {space 1}{res} {ralign 9:-0.010}{txt} {space 1}{res} {ralign 9:-0.001}{txt} {space 1}{res} {ralign 9:-0.003}{txt} {space 1}{res} {ralign 9:-0.008}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:-0.005}{txt} {space 1}{res} {ralign 9:-0.025}{txt} {space 1}
{res}{txt}{space 12} {c |}{res} {ralign 9:0.010}{txt} {space 1}{res} {ralign 9:0.014}{txt} {space 1}{res} {ralign 9:0.013}{txt} {space 1}{res} {ralign 9:0.012}{txt} {space 1}{res} {ralign 9:0.008}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.017}{txt} {space 1}{res} {ralign 9:0.017}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:.}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 110:Legend: b/se}
{res}{txt}
{com}. estimates table  ihs_diff_C* , b(%9.3f)                   stats(N r2) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:ihs_diff_C1} {space 1} {center 12:ihs_diff_C2} {space 1} {center 12:ihs_diff_C3} {space 1} {center 12:ihs_diff_C4} {space 1} {center 12:ihs_diff_C5} {space 1} {center 12:ihs_diff_C6} {space 1} {center 12:ihs_diff_C7} {space 1} {center 12:ihs_diff_C8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.010}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.010}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.001}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.003}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.008}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.005}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.025}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:.}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 134:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
. 
. 
.                 ************************
.                 *** Beam (B) ***********
.                 ************************
.                 
.     ** Results for log transformed data **
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  log_csd    log_L3_sd   log_B`q'_L3_sd                                                          if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(log_B`q')
{txt}  3{com}.         estimates store log_B`q'
{txt}  4{com}.         *predict log_B`q', e
.         gen ll_log_B`q' = (log_B`q')^2
{txt}  5{com}.         gen diff_log_B`q' = ll_log_BV - ll_log_B`q'
{txt}  6{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.47
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8851
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8832
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1652
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7147

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3128183{col 26}{space 2} .0779523{col 37}{space 1}    4.01{col 46}{space 3}0.000{col 54}{space 4} .1561674{col 67}{space 3} .4694692
{txt}log_B1_L3_sd {c |}{col 14}{res}{space 2} .0894388{col 26}{space 2} .0379643{col 37}{space 1}    2.36{col 46}{space 3}0.023{col 54}{space 4} .0131467{col 67}{space 3} .1657309
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3505212{col 26}{space 2} .1326684{col 37}{space 1}    2.64{col 46}{space 3}0.011{col 54}{space 4}  .083914{col 67}{space 3} .6171284
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.53
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0007
{txt}{col 51}R-squared{col 67}= {res}    0.8863
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8844
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1741
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7109

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .310173{col 26}{space 2} .0757446{col 37}{space 1}    4.09{col 46}{space 3}0.000{col 54}{space 4} .1579585{col 67}{space 3} .4623875
{txt}log_B2_L3_sd {c |}{col 14}{res}{space 2} .1179195{col 26}{space 2} .0568744{col 37}{space 1}    2.07{col 46}{space 3}0.043{col 54}{space 4} .0036262{col 67}{space 3} .2322128
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3550823{col 26}{space 2} .1622203{col 37}{space 1}    2.19{col 46}{space 3}0.033{col 54}{space 4} .0290883{col 67}{space 3} .6810763
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.46
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8875
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8856
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1824
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7073

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3115456{col 26}{space 2} .0757909{col 37}{space 1}    4.11{col 46}{space 3}0.000{col 54}{space 4} .1592382{col 67}{space 3}  .463853
{txt}log_B3_L3_sd {c |}{col 14}{res}{space 2} .1350276{col 26}{space 2} .0531592{col 37}{space 1}    2.54{col 46}{space 3}0.014{col 54}{space 4} .0282002{col 67}{space 3}  .241855
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3683236{col 26}{space 2} .1302667{col 37}{space 1}    2.83{col 46}{space 3}0.007{col 54}{space 4} .1065428{col 67}{space 3} .6301044
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.28
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0008
{txt}{col 51}R-squared{col 67}= {res}    0.8874
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8855
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1819
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7075

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3006401{col 26}{space 2} .0764318{col 37}{space 1}    3.93{col 46}{space 3}0.000{col 54}{space 4} .1470446{col 67}{space 3} .4542356
{txt}log_B4_L3_sd {c |}{col 14}{res}{space 2} .1410736{col 26}{space 2} .0567131{col 37}{space 1}    2.49{col 46}{space 3}0.016{col 54}{space 4} .0271044{col 67}{space 3} .2550427
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4266528{col 26}{space 2} .1188691{col 37}{space 1}    3.59{col 46}{space 3}0.001{col 54}{space 4} .1877765{col 67}{space 3} .6655291
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.52
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8886
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8867
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1906
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7037

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3000108{col 26}{space 2} .0780913{col 37}{space 1}    3.84{col 46}{space 3}0.000{col 54}{space 4} .1430805{col 67}{space 3} .4569412
{txt}log_B5_L3_sd {c |}{col 14}{res}{space 2} .1462886{col 26}{space 2} .0475753{col 37}{space 1}    3.07{col 46}{space 3}0.003{col 54}{space 4} .0506825{col 67}{space 3} .2418947
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4529841{col 26}{space 2} .0903791{col 37}{space 1}    5.01{col 46}{space 3}0.000{col 54}{space 4} .2713605{col 67}{space 3} .6346077
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.30
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8903
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8884
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2028
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6984

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2918767{col 26}{space 2} .0785436{col 37}{space 1}    3.72{col 46}{space 3}0.001{col 54}{space 4} .1340373{col 67}{space 3} .4497161
{txt}log_B6_L3_sd {c |}{col 14}{res}{space 2}  .188516{col 26}{space 2} .0609306{col 37}{space 1}    3.09{col 46}{space 3}0.003{col 54}{space 4} .0660714{col 67}{space 3} .3109607
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4469048{col 26}{space 2} .0926902{col 37}{space 1}    4.82{col 46}{space 3}0.000{col 54}{space 4} .2606368{col 67}{space 3} .6331727
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.40
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8858
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8839
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1702
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7125

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .302777{col 26}{space 2} .0769372{col 37}{space 1}    3.94{col 46}{space 3}0.000{col 54}{space 4} .1481659{col 67}{space 3} .4573882
{txt}log_B7_L3_sd {c |}{col 14}{res}{space 2} .1257026{col 26}{space 2} .0475905{col 37}{space 1}    2.64{col 46}{space 3}0.011{col 54}{space 4} .0300659{col 67}{space 3} .2213393
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4196881{col 26}{space 2} .0989093{col 37}{space 1}    4.24{col 46}{space 3}0.000{col 54}{space 4} .2209225{col 67}{space 3} .6184537
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     20.59
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8832
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8813
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1516
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7205

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3273672{col 26}{space 2} .0769967{col 37}{space 1}    4.25{col 46}{space 3}0.000{col 54}{space 4} .1726366{col 67}{space 3} .4820979
{txt}log_B8_L3_sd {c |}{col 14}{res}{space 2} .0861721{col 26}{space 2}  .071635{col 37}{space 1}    1.20{col 46}{space 3}0.235{col 54}{space 4}-.0577839{col 67}{space 3}  .230128
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.0116023{col 26}{space 2} .4847436{col 37}{space 1}   -0.02{col 46}{space 3}0.981{col 54}{space 4} -.985731{col 67}{space 3} .9625265
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)

{com}. 
. sum diff* // check variables, must be zero for no. 6. 

{txt}    Variable {c |}        Obs        Mean    Std. dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 1}diff_log_S1 {c |}{res}      4,200   -.0115696    .2327564  -2.495239   1.771312
{txt}{space 1}diff_log_S2 {c |}{res}      4,200   -.0156021    .2349345  -2.487297   1.596902
{txt}{space 1}diff_log_S3 {c |}{res}      4,200   -.0165233     .243646  -2.645734   1.680135
{txt}{space 1}diff_log_S4 {c |}{res}      4,200   -.0091119    .2711902  -2.673295   2.042835
{txt}{space 1}diff_log_S5 {c |}{res}      4,200    -.016572    .2425289  -2.778116   1.651423
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_log_S6 {c |}{res}      4,200           0           0          0          0
{txt}{space 1}diff_log_S7 {c |}{res}      4,200   -.0082888    .1682984  -2.500639   1.813459
{txt}{space 1}diff_log_S8 {c |}{res}      4,200    .0045987    .2534869  -2.170043   2.426652
{txt}{space 1}diff_ihs_S1 {c |}{res}      4,200   -.0096348    .2437445  -3.009901   1.843422
{txt}{space 1}diff_ihs_S2 {c |}{res}      4,200   -.0153027    .2410976  -2.377919   2.019186
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_ihs_S3 {c |}{res}      4,200   -.0158059     .248132  -2.671963   2.099413
{txt}{space 1}diff_ihs_S4 {c |}{res}      4,200   -.0092029    .2814132  -2.665222   2.031888
{txt}{space 1}diff_ihs_S5 {c |}{res}      4,200   -.0156955    .2497446   -2.87505   2.092382
{txt}{space 1}diff_ihs_S6 {c |}{res}      4,200           0           0          0          0
{txt}{space 1}diff_ihs_S7 {c |}{res}      4,200   -.0088004    .1824689  -2.574854   2.176274
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_ihs_S8 {c |}{res}      4,200    .0054126    .2825975  -2.021862   2.937805
{txt}{space 1}diff_log_C1 {c |}{res}      4,200   -.0095931    .2347364  -2.727674    2.03346
{txt}{space 1}diff_log_C2 {c |}{res}      4,200    -.011721    .2639141  -4.532279   1.932446
{txt}{space 1}diff_log_C3 {c |}{res}      4,200   -.0016291    .2900573   -3.56449   2.469205
{txt}{space 1}diff_log_C4 {c |}{res}      4,200   -.0029691    .2861863  -3.363359    2.40751
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_log_C5 {c |}{res}      4,200   -.0082361    .1577869  -3.043859   1.280614
{txt}{space 1}diff_log_C6 {c |}{res}      4,200           0           0          0          0
{txt}{space 1}diff_log_C7 {c |}{res}      4,200   -.0064713     .311059  -2.916493   2.847808
{txt}{space 1}diff_log_C8 {c |}{res}      4,200   -.0245213    .3421563  -3.662327   2.356163
{txt}{space 1}diff_ihs_C1 {c |}{res}      4,200   -.0096453    .2628025  -3.349212   2.568147
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_ihs_C2 {c |}{res}      4,200   -.0104692    .2889871  -4.607218    2.53674
{txt}{space 1}diff_ihs_C3 {c |}{res}      4,200   -.0006265    .3259693  -4.017921   2.702335
{txt}{space 1}diff_ihs_C4 {c |}{res}      4,200   -.0031111     .319231  -3.617425   2.669518
{txt}{space 1}diff_ihs_C5 {c |}{res}      4,200   -.0084159    .1685165  -3.054074   1.291557
{txt}{space 1}diff_ihs_C6 {c |}{res}      4,200           0           0          0          0
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_ihs_C7 {c |}{res}      4,200   -.0049125    .3553166  -2.999043   3.789502
{txt}{space 1}diff_ihs_C8 {c |}{res}      4,200   -.0248581    .3670329  -3.895811   3.114475
{txt}{space 1}diff_log_B1 {c |}{res}      4,200    -.022635    .3682398  -5.885269   4.085731
{txt}{space 1}diff_log_B2 {c |}{res}      4,200   -.0172775    .3262777  -4.382487   4.614499
{txt}{space 1}diff_log_B3 {c |}{res}      4,200   -.0122952     .299846  -4.630204   4.751056
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_log_B4 {c |}{res}      4,200   -.0125886    .1960638  -3.420505   1.420051
{txt}{space 1}diff_log_B5 {c |}{res}      4,200   -.0073289    .1065202  -1.290953    .978632
{txt}{space 1}diff_log_B6 {c |}{res}      4,200           0           0          0          0
{txt}{space 1}diff_log_B7 {c |}{res}      4,200   -.0196097    .3196049  -3.856029   3.804161
{txt}{space 1}diff_log_B8 {c |}{res}      4,200   -.0307902    .4330061  -6.165346   4.020895
{txt}
{com}. 
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reg diff_log_B`q', vce(cluster cell)
{txt}  3{com}.         estimates store log_diff_B`q' // constant significant? test for differences in model fit. (Wooldridge explain the by-hand process)
{txt}  4{com}. {c )-} 

{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .36824

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_B1{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2} -.022635{col 26}{space 2} .0144663{col 37}{space 1}   -1.56{col 46}{space 3}0.124{col 54}{space 4}-.0517061{col 67}{space 3}  .006436
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .32628

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_B2{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0172775{col 26}{space 2} .0137435{col 37}{space 1}   -1.26{col 46}{space 3}0.215{col 54}{space 4} -.044896{col 67}{space 3}  .010341
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .29985

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_B3{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0122952{col 26}{space 2} .0102107{col 37}{space 1}   -1.20{col 46}{space 3}0.234{col 54}{space 4}-.0328144{col 67}{space 3}  .008224
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .19606

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_B4{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0125886{col 26}{space 2} .0097611{col 37}{space 1}   -1.29{col 46}{space 3}0.203{col 54}{space 4}-.0322043{col 67}{space 3} .0070271
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .10652

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_B5{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0073289{col 26}{space 2} .0054787{col 37}{space 1}   -1.34{col 46}{space 3}0.187{col 54}{space 4}-.0183388{col 67}{space 3}  .003681
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}         .
                                                {txt}Root MSE          =    {res}      0

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_B6{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res}  .3196

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_B7{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0196097{col 26}{space 2} .0154092{col 37}{space 1}   -1.27{col 46}{space 3}0.209{col 54}{space 4}-.0505756{col 67}{space 3} .0113561
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .43301

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_B8{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0307902{col 26}{space 2} .0195811{col 37}{space 1}   -1.57{col 46}{space 3}0.122{col 54}{space 4}-.0701399{col 67}{space 3} .0085595
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. 
. estimates table  log_diff_B* , b(%9.3f) se(%9.3f) stats(N r2) 
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:Variable} {c |} {center 9:log_dif~1} {space 1} {center 9:log_dif~2} {space 1} {center 9:log_dif~3} {space 1} {center 9:log_dif~4} {space 1} {center 9:log_dif~5} {space 1} {center 9:log_dif~6} {space 1} {center 9:log_dif~7} {space 1} {center 9:log_dif~8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.023}{txt} {space 1}{res} {ralign 9:-0.017}{txt} {space 1}{res} {ralign 9:-0.012}{txt} {space 1}{res} {ralign 9:-0.013}{txt} {space 1}{res} {ralign 9:-0.007}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:-0.020}{txt} {space 1}{res} {ralign 9:-0.031}{txt} {space 1}
{res}{txt}{space 12} {c |}{res} {ralign 9:0.014}{txt} {space 1}{res} {ralign 9:0.014}{txt} {space 1}{res} {ralign 9:0.010}{txt} {space 1}{res} {ralign 9:0.010}{txt} {space 1}{res} {ralign 9:0.005}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.015}{txt} {space 1}{res} {ralign 9:0.020}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:.}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 110:Legend: b/se}
{res}{txt}
{com}. estimates table  log_diff_B* , b(%9.3f)                   stats(N r2) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:log_diff_B1} {space 1} {center 12:log_diff_B2} {space 1} {center 12:log_diff_B3} {space 1} {center 12:log_diff_B4} {space 1} {center 12:log_diff_B5} {space 1} {center 12:log_diff_B6} {space 1} {center 12:log_diff_B7} {space 1} {center 12:log_diff_B8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.023}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.017}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.012}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.013}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.007}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.020}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.031}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:.}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 134:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
. 
.     ** Results for ihs transformed data **
. 
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  ihs_csd    ihs_L3_sd   ihs_B`q'_L3_sd                                                          if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(ihs_B`q')
{txt}  3{com}.         estimates store ihs_B`q'
{txt}  4{com}.         *predict ihs_B`q', e
.         gen ll_ihs_B`q' = (ihs_B`q')^2
{txt}  5{com}.         gen diff_ihs_B`q' = ll_ihs_BV - ll_ihs_B`q'
{txt}  6{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.35
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8843
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8824
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1441
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7974

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2985973{col 26}{space 2} .0780872{col 37}{space 1}    3.82{col 46}{space 3}0.000{col 54}{space 4} .1416752{col 67}{space 3} .4555194
{txt}ihs_B1_L3_sd {c |}{col 14}{res}{space 2} .0758602{col 26}{space 2} .0343763{col 37}{space 1}    2.21{col 46}{space 3}0.032{col 54}{space 4} .0067784{col 67}{space 3} .1449419
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4527748{col 26}{space 2} .1402097{col 37}{space 1}    3.23{col 46}{space 3}0.002{col 54}{space 4} .1710128{col 67}{space 3} .7345368
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.50
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0014
{txt}{col 51}R-squared{col 67}= {res}    0.8855
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8835
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1527
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7934

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2963865{col 26}{space 2} .0766573{col 37}{space 1}    3.87{col 46}{space 3}0.000{col 54}{space 4} .1423379{col 67}{space 3}  .450435
{txt}ihs_B2_L3_sd {c |}{col 14}{res}{space 2} .1066464{col 26}{space 2} .0550751{col 37}{space 1}    1.94{col 46}{space 3}0.059{col 54}{space 4}-.0040311{col 67}{space 3} .2173239
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4381148{col 26}{space 2} .1841528{col 37}{space 1}    2.38{col 46}{space 3}0.021{col 54}{space 4} .0680458{col 67}{space 3} .8081837
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.23
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0008
{txt}{col 51}R-squared{col 67}= {res}    0.8867
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8848
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1616
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7892

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2985222{col 26}{space 2} .0770584{col 37}{space 1}    3.87{col 46}{space 3}0.000{col 54}{space 4} .1436675{col 67}{space 3} .4533769
{txt}ihs_B3_L3_sd {c |}{col 14}{res}{space 2} .1266548{col 26}{space 2} .0512041{col 37}{space 1}    2.47{col 46}{space 3}0.017{col 54}{space 4} .0237563{col 67}{space 3} .2295533
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4400091{col 26}{space 2}  .148893{col 37}{space 1}    2.96{col 46}{space 3}0.005{col 54}{space 4} .1407974{col 67}{space 3} .7392207
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.23
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0018
{txt}{col 51}R-squared{col 67}= {res}    0.8868
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8849
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1626
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7888

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2876847{col 26}{space 2} .0777988{col 37}{space 1}    3.70{col 46}{space 3}0.001{col 54}{space 4} .1313422{col 67}{space 3} .4440272
{txt}ihs_B4_L3_sd {c |}{col 14}{res}{space 2} .1358333{col 26}{space 2} .0553371{col 37}{space 1}    2.45{col 46}{space 3}0.018{col 54}{space 4} .0246292{col 67}{space 3} .2470373
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4980921{col 26}{space 2} .1372694{col 37}{space 1}    3.63{col 46}{space 3}0.001{col 54}{space 4}  .222239{col 67}{space 3} .7739452
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.58
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8878
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8859
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1698
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7854

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2888944{col 26}{space 2} .0792208{col 37}{space 1}    3.65{col 46}{space 3}0.001{col 54}{space 4} .1296943{col 67}{space 3} .4480945
{txt}ihs_B5_L3_sd {c |}{col 14}{res}{space 2}  .135881{col 26}{space 2} .0446838{col 37}{space 1}    3.04{col 46}{space 3}0.004{col 54}{space 4} .0460856{col 67}{space 3} .2256765
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5309591{col 26}{space 2} .1020565{col 37}{space 1}    5.20{col 46}{space 3}0.000{col 54}{space 4} .3258689{col 67}{space 3} .7360494
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.36
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8895
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8877
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1827
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7792

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .281706{col 26}{space 2} .0799426{col 37}{space 1}    3.52{col 46}{space 3}0.001{col 54}{space 4} .1210553{col 67}{space 3} .4423567
{txt}ihs_B6_L3_sd {c |}{col 14}{res}{space 2} .1807317{col 26}{space 2} .0586654{col 37}{space 1}    3.08{col 46}{space 3}0.003{col 54}{space 4} .0628392{col 67}{space 3} .2986243
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5195292{col 26}{space 2} .1058761{col 37}{space 1}    4.91{col 46}{space 3}0.000{col 54}{space 4} .3067631{col 67}{space 3} .7322952
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.18
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8853
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8834
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1516
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7939

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2889601{col 26}{space 2} .0772354{col 37}{space 1}    3.74{col 46}{space 3}0.000{col 54}{space 4} .1337499{col 67}{space 3} .4441704
{txt}ihs_B7_L3_sd {c |}{col 14}{res}{space 2} .1222283{col 26}{space 2} .0451642{col 37}{space 1}    2.71{col 46}{space 3}0.009{col 54}{space 4} .0314674{col 67}{space 3} .2129892
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4897559{col 26}{space 2} .1071367{col 37}{space 1}    4.57{col 46}{space 3}0.000{col 54}{space 4} .2744567{col 67}{space 3} .7050551
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     22.80
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8830
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8811
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1347
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8018

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3095348{col 26}{space 2} .0766739{col 37}{space 1}    4.04{col 46}{space 3}0.000{col 54}{space 4} .1554528{col 67}{space 3} .4636167
{txt}ihs_B8_L3_sd {c |}{col 14}{res}{space 2} .0930434{col 26}{space 2} .0795553{col 37}{space 1}    1.17{col 46}{space 3}0.248{col 54}{space 4}-.0668291{col 67}{space 3} .2529158
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.0319742{col 26}{space 2} .5871681{col 37}{space 1}   -0.05{col 46}{space 3}0.957{col 54}{space 4}-1.211933{col 67}{space 3} 1.147984
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)

{com}. 
. sum diff* // check variables, must be zero for no. 6. 

{txt}    Variable {c |}        Obs        Mean    Std. dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 1}diff_log_S1 {c |}{res}      4,200   -.0115696    .2327564  -2.495239   1.771312
{txt}{space 1}diff_log_S2 {c |}{res}      4,200   -.0156021    .2349345  -2.487297   1.596902
{txt}{space 1}diff_log_S3 {c |}{res}      4,200   -.0165233     .243646  -2.645734   1.680135
{txt}{space 1}diff_log_S4 {c |}{res}      4,200   -.0091119    .2711902  -2.673295   2.042835
{txt}{space 1}diff_log_S5 {c |}{res}      4,200    -.016572    .2425289  -2.778116   1.651423
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_log_S6 {c |}{res}      4,200           0           0          0          0
{txt}{space 1}diff_log_S7 {c |}{res}      4,200   -.0082888    .1682984  -2.500639   1.813459
{txt}{space 1}diff_log_S8 {c |}{res}      4,200    .0045987    .2534869  -2.170043   2.426652
{txt}{space 1}diff_ihs_S1 {c |}{res}      4,200   -.0096348    .2437445  -3.009901   1.843422
{txt}{space 1}diff_ihs_S2 {c |}{res}      4,200   -.0153027    .2410976  -2.377919   2.019186
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_ihs_S3 {c |}{res}      4,200   -.0158059     .248132  -2.671963   2.099413
{txt}{space 1}diff_ihs_S4 {c |}{res}      4,200   -.0092029    .2814132  -2.665222   2.031888
{txt}{space 1}diff_ihs_S5 {c |}{res}      4,200   -.0156955    .2497446   -2.87505   2.092382
{txt}{space 1}diff_ihs_S6 {c |}{res}      4,200           0           0          0          0
{txt}{space 1}diff_ihs_S7 {c |}{res}      4,200   -.0088004    .1824689  -2.574854   2.176274
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_ihs_S8 {c |}{res}      4,200    .0054126    .2825975  -2.021862   2.937805
{txt}{space 1}diff_log_C1 {c |}{res}      4,200   -.0095931    .2347364  -2.727674    2.03346
{txt}{space 1}diff_log_C2 {c |}{res}      4,200    -.011721    .2639141  -4.532279   1.932446
{txt}{space 1}diff_log_C3 {c |}{res}      4,200   -.0016291    .2900573   -3.56449   2.469205
{txt}{space 1}diff_log_C4 {c |}{res}      4,200   -.0029691    .2861863  -3.363359    2.40751
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_log_C5 {c |}{res}      4,200   -.0082361    .1577869  -3.043859   1.280614
{txt}{space 1}diff_log_C6 {c |}{res}      4,200           0           0          0          0
{txt}{space 1}diff_log_C7 {c |}{res}      4,200   -.0064713     .311059  -2.916493   2.847808
{txt}{space 1}diff_log_C8 {c |}{res}      4,200   -.0245213    .3421563  -3.662327   2.356163
{txt}{space 1}diff_ihs_C1 {c |}{res}      4,200   -.0096453    .2628025  -3.349212   2.568147
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_ihs_C2 {c |}{res}      4,200   -.0104692    .2889871  -4.607218    2.53674
{txt}{space 1}diff_ihs_C3 {c |}{res}      4,200   -.0006265    .3259693  -4.017921   2.702335
{txt}{space 1}diff_ihs_C4 {c |}{res}      4,200   -.0031111     .319231  -3.617425   2.669518
{txt}{space 1}diff_ihs_C5 {c |}{res}      4,200   -.0084159    .1685165  -3.054074   1.291557
{txt}{space 1}diff_ihs_C6 {c |}{res}      4,200           0           0          0          0
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_ihs_C7 {c |}{res}      4,200   -.0049125    .3553166  -2.999043   3.789502
{txt}{space 1}diff_ihs_C8 {c |}{res}      4,200   -.0248581    .3670329  -3.895811   3.114475
{txt}{space 1}diff_log_B1 {c |}{res}      4,200    -.022635    .3682398  -5.885269   4.085731
{txt}{space 1}diff_log_B2 {c |}{res}      4,200   -.0172775    .3262777  -4.382487   4.614499
{txt}{space 1}diff_log_B3 {c |}{res}      4,200   -.0122952     .299846  -4.630204   4.751056
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_log_B4 {c |}{res}      4,200   -.0125886    .1960638  -3.420505   1.420051
{txt}{space 1}diff_log_B5 {c |}{res}      4,200   -.0073289    .1065202  -1.290953    .978632
{txt}{space 1}diff_log_B6 {c |}{res}      4,200           0           0          0          0
{txt}{space 1}diff_log_B7 {c |}{res}      4,200   -.0196097    .3196049  -3.856029   3.804161
{txt}{space 1}diff_log_B8 {c |}{res}      4,200   -.0307902    .4330061  -6.165346   4.020895
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_ihs_B1 {c |}{res}      4,200    -.028156     .444753  -6.954104   4.635743
{txt}{space 1}diff_ihs_B2 {c |}{res}      4,200   -.0219042    .3937473  -5.391868   5.133454
{txt}{space 1}diff_ihs_B3 {c |}{res}      4,200   -.0153749    .3602174  -5.593572   5.269336
{txt}{space 1}diff_ihs_B4 {c |}{res}      4,200   -.0146713    .2446382  -4.111659   1.912159
{txt}{space 1}diff_ihs_B5 {c |}{res}      4,200   -.0093991    .1356764  -1.666356   1.256773
{txt}{hline 13}{c +}{hline 57}
{space 1}diff_ihs_B6 {c |}{res}      4,200           0           0          0          0
{txt}{space 1}diff_ihs_B7 {c |}{res}      4,200   -.0226682    .3854629   -4.60733   4.381686
{txt}{space 1}diff_ihs_B8 {c |}{res}      4,200   -.0350481    .5083358  -7.091191   4.623239
{txt}
{com}. 
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reg diff_ihs_B`q', vce(cluster cell)
{txt}  3{com}.         estimates store ihs_diff_B`q' // constant significant? test for differences in model fit. (Wooldridge explain the by-hand process)
{txt}  4{com}. {c )-} 

{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .44475

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_B1{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2} -.028156{col 26}{space 2} .0174758{col 37}{space 1}   -1.61{col 46}{space 3}0.114{col 54}{space 4} -.063275{col 67}{space 3} .0069629
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .39375

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_B2{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0219042{col 26}{space 2} .0159065{col 37}{space 1}   -1.38{col 46}{space 3}0.175{col 54}{space 4}-.0538695{col 67}{space 3}  .010061
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .36022

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_B3{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0153749{col 26}{space 2} .0119581{col 37}{space 1}   -1.29{col 46}{space 3}0.205{col 54}{space 4}-.0394056{col 67}{space 3} .0086559
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .24464

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_B4{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0146713{col 26}{space 2} .0118281{col 37}{space 1}   -1.24{col 46}{space 3}0.221{col 54}{space 4}-.0384408{col 67}{space 3} .0090983
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .13568

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_B5{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0093991{col 26}{space 2} .0068148{col 37}{space 1}   -1.38{col 46}{space 3}0.174{col 54}{space 4}-.0230939{col 67}{space 3} .0042957
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}         .
                                                {txt}Root MSE          =    {res}      0

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_B6{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .38546

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_B7{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0226682{col 26}{space 2}  .018273{col 37}{space 1}   -1.24{col 46}{space 3}0.221{col 54}{space 4}-.0593891{col 67}{space 3} .0140527
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .50834

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_B8{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0350481{col 26}{space 2} .0224939{col 37}{space 1}   -1.56{col 46}{space 3}0.126{col 54}{space 4}-.0802513{col 67}{space 3}  .010155
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. 
. estimates table  ihs_diff_B* , b(%9.3f) se(%9.3f) stats(N r2) 
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:Variable} {c |} {center 9:ihs_dif~1} {space 1} {center 9:ihs_dif~2} {space 1} {center 9:ihs_dif~3} {space 1} {center 9:ihs_dif~4} {space 1} {center 9:ihs_dif~5} {space 1} {center 9:ihs_dif~6} {space 1} {center 9:ihs_dif~7} {space 1} {center 9:ihs_dif~8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.028}{txt} {space 1}{res} {ralign 9:-0.022}{txt} {space 1}{res} {ralign 9:-0.015}{txt} {space 1}{res} {ralign 9:-0.015}{txt} {space 1}{res} {ralign 9:-0.009}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:-0.023}{txt} {space 1}{res} {ralign 9:-0.035}{txt} {space 1}
{res}{txt}{space 12} {c |}{res} {ralign 9:0.017}{txt} {space 1}{res} {ralign 9:0.016}{txt} {space 1}{res} {ralign 9:0.012}{txt} {space 1}{res} {ralign 9:0.012}{txt} {space 1}{res} {ralign 9:0.007}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.018}{txt} {space 1}{res} {ralign 9:0.022}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:.}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 110:Legend: b/se}
{res}{txt}
{com}. estimates table  ihs_diff_B* , b(%9.3f)                   stats(N r2) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:ihs_diff_B1} {space 1} {center 12:ihs_diff_B2} {space 1} {center 12:ihs_diff_B3} {space 1} {center 12:ihs_diff_B4} {space 1} {center 12:ihs_diff_B5} {space 1} {center 12:ihs_diff_B6} {space 1} {center 12:ihs_diff_B7} {space 1} {center 12:ihs_diff_B8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.028}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.022}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.015}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.015}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.009}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.023}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.035}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:.}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 134:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
. 
. log close 
      {txt}name:  {res}<unnamed>
       {txt}log:  {res}R:\WSV2\TBu_AKe\Spatial_NEW\Wmat_SCB_test\spatial_6_regs_s_1502_vuong.smcl
  {txt}log type:  {res}smcl
 {txt}closed on:  {res}15 Feb 2023, 18:05:52
{txt}{.-}
{smcl}
{txt}{sf}{ul off}